I have been trying to get infromation on getting a loan through the SBA. I am trying to get the money to get my fees for a franchise.
However when looking through the information on the SBA website I can not understand how people get loans through them to start with.

It states on there that you do not always have to have collateral but you do have to have 20% or more of your start up cost. Not everyone has 20% of start up cost. I own my home, well I still owe
about $62,000 the house is worth about $140,000 maybe a little more.

So how do you open a business if you do not have any money saved up at all. The business I am looking at just to get started I would need at least $50,000. And I do not have any family or friends that I could get money from. I noticed on the SBA website they tell you to get your money from family and friends, I do not know anyone who could just hand over money like that.

Does anyone out there have any suggestions. Should I just give it up. Thanks for any advice.

Sincerely,

Lanell